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Wednesday noon: The two mega-deals of deadline day were finalized in the early ours of Wednesday morning.

Radamel Falcao officially joined Manchester United on a season-long loan deal. The Colombian striker has recovered from an ACL injury he suffered in January, which ruled him out of the 2014 World Cup. If he rediscovered his best form and fearsome scoring touch at Old Trafford, Manchester United will have what is arguably world soccer’s deadliest, pure goal scorer in its ranks.

Manchester United will pay a staggering fee to rent Falcao for the 2014-15 season. The Red Devils will pay Monaco a £6 million ($9.9 million) loan fee. They’ll also pay Falcao £265,000-a-week ($437,122 a-week) before taxes, which brings the total cost of securing him to around £24 million ($39.6 million), according to the Telegraph.

BREAKING: #mufc is delighted to announce Radamel Falcao has joined on a 1-year loan from Monaco with an option to buy http://t.co/gnhR4rdsmF

Welbeck, a center forward, would have had few chances to play his natural position at Manchester United due to the presences of Falcao, Wayne Rooney and Robin van Persie. Manchester United was looking to recoup funds after this summer’s spending spree, and Welbeck was one of the its most marketable assets.

Arsenal will be without top striker Olivier Giroud until around Christmas, so Welbeck should see plenty of action up front for the Gunners.

Manchester United also loaned Tom Cleverly to Aston Villa. The Premier League approved the move early Wednesday morning.

Finally, Hull City landed Ben Arfa on a season-long loan. Newcastle was keen to offload Ben Arfa after he reportedly fell out with manager Alan Pardew. Ben Arfa, joins Ramirez, Diame, Hernandez and George Boyd among Hull City’deadline-day signings.

6:30 p.m.: French midfielder Morgan Amalfitano is returning to the Premier League. Amalfitano is joining West Ham on permanent transfer, reportedly worth £1 million ($1.6 million), from Marseille, according to the Mail.

Amalfitano scored four goals in 31 games last season for West Brom.

“I enjoyed my first year in English football and for that reason I have come back and hopefully I can improve again,” Amalfitano told West Ham’s website. “The first year was good for my experience and I will try to help West Ham now by giving my best and continue to improve in this league. I like this country and this is the best league.”

6:20 p.m.: Manchester City striker Alvaro Negredo is heading back to Spain after one season at the Etihad Stadium.

Valencia has the option to purchase Negredo next summer for £23.7 million ($39.4 million), according to the Telegraph.

6 p.m.: The summer 2014 transfer window now is closed. There almost certainly are a number of deals that have been finalized in the last few minutes. We’re waiting for the information to become public.

5:50 p.m.: Liverpool’s Oussama Assaidi is set to spend another season on loan at Stoke City.

The French defender joined Newcastle in January 2013 and spent 18 months with the Magpies. Yanga-Mbiwa’s contract doesn’t expire for another four years, so there’s a chance he could return to the Premier League club in the future.

5:35 p.m.: Hull City makes scored a a deadline-day hat-trick of signings, having secured the services of Gaston Ramirez, who joins on a season-long loan from Southampton.

5:15 p.m.: Micah Richards is taking his talents abroad after agreeing to join Italian Serie A (first division) club Fiorentina on a season-long loan from Manchester City.

Richards, 26, only played 10 games for Manchester City last season — primarily due to injuries and loss of form. A number of Premier League clubs reportedly were pursuing Richards, but his salary made it difficult for him to secure a move to a domestic suitor, according to the Mail.

Richards, an England international, now will test himself in Italy’s top-flight, while Manchester City pockets a £1 million ($1 million) loan fee for its longtime defender.

5:10 p.m.: Neil Warnock assumed the role of Crystal Palace manager last week, and the Eagles boss is doing plenty of shopping on deadline day.

Crystal Palace signed James McArthur from Wigan Athletic for a reported fee of £7 million ($11.6 million). The Scottish midfielder was an integral part of the Wigan team which won the FA Cup in 2013 but also was relegated from the Premier League.

James McArthur has signed a three year contract with Palace after joining from Wigan Athletic for an undisclosed fee. http://t.co/6hLUGbxzuD

5 p.m.: The transfer window closes in one hour for Premier League clubs. Stick with us for all the late moves, as teams look to sign and sell players before the buzzer sounds.

4:40 p.m.: Tottenham made another noteworthy signing earlier Monday when it landed Benjamin Stambouli from French club Montpellier in a transfer worth a reported £4.7 million ($7.8 million), according to the BBC.

Fryers, a highly rated defender, is a product of Manchester United’s youth system. Fryers, 21, controversially joined Tottenham in Jan. 2013 but only played 16 games in 18 months at White Hart Lane.

3:50 p.m.: Jermaine Defoe is staying with Toronto FC.

Defoe reportedly has drawn interest from Premier League clubs Arsenal, Newcastle, Hull City, Leicester City and QPR in recent weeks. QPR reportedly lodged a £6.6 million ($11 million) transfer bid for Defoe, but the English striker will stick with his MLS club, according to the Toronto Sun.

“Obviously the bids that were most intense were for Jermain Defoe,” Toronto FC president Tim Leiweke said. “We’re not interested in him going anywhere. People spin this stuff based on their end goals. There was spinning.”

3:25 p.m.: Manchester United’s spending spree continues. The Red Devils signed Daley Blind from Ajax for £13.8 million ($16 million), according to the BBC.

Blind can play both as a holding midfielder and as a left-sided fullback. The 24-year-old was part of the Netherlands’ 2014 FIFA World Cup squad, which new Manchester United manager Louis van Gaal led to a third-place finish.

2:35 p.m.: Hull City bolsters its midfield ranks by signing Mohamed Diame from West Ham. The 27-year-old France-born Senegal international has loads of Premier League experience, having played regular games for West Ham and Wigan in recent seasons.

Van Ginkel tore his ACL last September, ruining his first season at Stamford Bridge. Chelsea allowed the 21-year-old midfielder to spend the season at AC Milan after manager Jose Mourinho decided that he wouldn’t break into his regular midfield rotation.

1:30 p.m.: Hull City has broken its transfer record by signing Abel Hernandez for Italian club Palermo for £10 million ($16.6 million), according to the BBC.

NEW SIGNING: We are delighted to have completed the signing of Abel Hernandez from Serie A side Palermo #UTThttp://t.co/sZ2NV4N4IK

12:40 p.m.: Sunderland has been chasing Fabio Borini all summer, but it looks like Queens Park Rangers will win the race for the Italian striker.

Liverpool has accepted QPR’s £10 million ($16.6 million) transfer bid for Borini, according to the Mail and the Liverpool Echo. The fee could rise to around £13 ($21.6 million) if certain clauses are met.

QPR's offer for Fabio Borini - which has been accepted by Liverpool - could amount to around £13m with add ons.

Verdict: The potential fee is £1 million ($1.6 million) less than what Sunderland had agreed to pay Liverpool earlier this summer. Borini’s reported reservations about returning to the club with which he spent last season on loan held up the deal. But Mario Balotelli’s arrival at Liverpool effectively sealed Borini’s exit, as he would have been the fourth-choice striker under Brendan Rodgers.

Liverpool’s and QPR’s gain ultimately will be Sunderland’s loss if Borini’s move is sealed before the deadline.

10 - No Sunderland player scored more goals in all competitions last season than Fabio Borini (10). Premium. #transferdeadlineday

Verdict: We like this move for Green. The teenage forward was unlikely to play, as superstars Robert Lewandowski, Arjen Robben, Franck Ribery and Thomas Muller and others are ahead of him in manager Pep Guardiola’s reckoning. Green’s development is at a crucial point. He needs to play regular games at a high level, and Hamburg will give him a good chance to do so while remaining in a familiar environment.

Noon ET: The wheeling and dealing started in June. It ends Monday.

The summer 2014 transfer window closes on Monday for many of Europe’s major soccer leagues. Players and money are changing hands at dizzying speeds, as teams look to strengthen themselves through last-minute additions and subtractions.

The Premier League is the richest and most watched domestic league in the world, and many expect its clubs to surpass the £1 billion ($1.66 billion) mark in terms of summer spending. Some of the sport’s biggest names have joined English clubs this summer, and more are on the way.

The biggest transfer story so far involves Radamel Falcao, who is nearing a move to Manchester United from France’s AS Monaco on a season-long loan. Manchester United agreed to pay £6 million ($10 million) for the rights to field the Colombian striker this season, according to the BBC. Falcao reportedly is flying to Manchester to discuss personal terms and have a physical examination. It’s likely that the Red Devils will look to sign Falcao permanently in the coming months.

As a result of the Falcao loan, Javier “Chicharito” Hernandez is heading for the exit door at Old Trafford. Hernandez has joined Real Madrid on a season-long loan after falling further down the pecking order at Manchester United. Hernandez, a Mexican international, will compete with Karim Benzema for playing time in the central striker’s role at the Bernabeu.